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Consumer behavior has changed - Data4Sales

Date post: 01-Feb-2023
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Unlock the power of data to create a personalized experience for your customers. UNLOCKING THE POWER OF CUSTOMER DATA
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Unlock the powerof data to create a personalizedexperience for yourcustomers.

UNLOCKING THE POWER OF CUSTOMER DATA

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Consumer behavior haschanged

We are living the "Consumer Age". The product is not the most important reason for a sale to take place. The customer has quickand easy access to information, can buy over the internet and various other channels.

"In the Consumer Age the onlysustainable advantage is the knowledgeand relationship with the customer."

Customerbehavior in the

past

Customerbehavior today

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Personalizing thecustomerexperience

Personalization is a means ofmeeting the customer's needsmore effectively and efficiently, making interactions faster andeasier and, consequently, increasing customer satisfactionand the likelihood of repeat visits.

Using customer data to better understand andsegment your customer base

Using Analytics to predict customers future behaviorbased on past behavior

Identifying the best customers

Focusing on products and services that meet the bestcustomers needs

Developing targeted marketing and sales activities

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WhyPersonalizationMatters

Personalized emails deliver 6 times higher transaction rates.

Source: instapage

79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumerhas had with the brand.

80% of shoppers are more likely to buy from a company thatoffers personalized experiences.

59% of customers say that personalization influences their shopping decision

63% of consumers said they’d think more positively of a brand if it gave them content that was more valuable, interesting or relevant.

81% of consumers want brands to get to know them and understandwhen to approach them and when not to.

75% of consumers are more likely to buy from a retailer thatrecognizes them by name, recommends options based on pastpurchases, OR knows their purchase history.

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The importance of customer retention by the numbers

80%Of the revenue comes from only20% of its existing customers, but80% of marketing costs go towardsacquiring new prospects

60 – 70%Probability of making a new sale for an existing customer, while for a new prospect the probability is 5-20%

25 – 95%It is the increase in profits when youincrease customer retention rates by5%

82%of customers stop buying from a company for dissatisfaction

33%Is how frequent customers spendmore than new prospects

74%of clients consider therecommendation of other customersas the main motivator for a purchasedecision

Acquiring a new customer is 5 to 25 times more expensive than maintaining an existing one

Sources: Gartner Group / Harvard Business Review / Marketing Metrics

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Taking theRightApproach

DATA COLLECTION

SEGMENTATION

PERSONALIZATION

The key to segmenting and personalizing experiences is having solidcustomer data. The richer your data, the better your audience willunderstand and the better the segmentation and personalizationbased on this data.

After collecting valuable data, you can begin to analyzeit, looking for interesting correlations between groupsand segmenting customers by demographic, psychographic, common interests and behavior in interactions.

Personalize individual journeys,tailor offers or promotions,

generate recommendations, etc.

THEOPTIMAL

EXPERIENCE

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Types ofCustomerSegmentation

DEMOGRAPHIC

BEHAVIORAL

PSICOGRAPHIC

GEOGRÁPHIC

• Values• Attitudes• Interests• Lifestyles• Motivations• Priorities

• Purchasing habits• Spending habits• Buyer status• Brand interactions

• ZIP code• City• Country• Radius around a certain

location• Climate• Urban or rural

• Age• Gender• Income• Location• Family Situation• Annual Income• Education• Ethnicity

WHY?

WHAT?WHEN?HOW? WHERE?

WHO?

How do your customers differ fromeach other and how can you adaptto those differences?

Segmentation allows marketers toapproach individual marketing orhyper personalize eachindividual's content. Whengrouping contacts, segmentationmakes personalization more manageable.

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Transforming business priorities intopersonalized actions

Acquire New Customers

Retain your mostvaluable customers

Increase revenue for existing customers

Reduce customeracquisition andretention costs

Improve customerexperience

Question What is my ideal customer profile?

Who are your mostvaluable customers?

What is the nextbest offer?

Which customersare likely to buyagain?

Which customersare unhappy and atrisk of churning?

Segmentationtechnique Cluster Analysis RFM / CLV Association Rules Regression Analysis NPS Survey

Personalizedaction

Find the rightprospects Promotions / Offers Cross-selling Target the right

CustomersMeet customersexpectations

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OurMethodology

3Exploratory

data analysis

4Segmentation

5Targeting

Data4Sales provides a Customer Data Platform andConsulting Services that enablecompanies to implementCustomer Personalization

1Customer

Dataconsolidation

2Data

enrichment

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It is not necessary to import sensitive data from your customers (ege-mail, telephone). For segmentation, only categorical data (gender, age group, city) will be used.

If you prefer, your data can be stored in your own infrastructure, as long as there is the possibility of external access

We provide our infrastructure for the storage of your data. They willbe completely isolated from other customers and protected bysecurity tools.

Data protection


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